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Orange County Bancorp, Inc. - $OBT STOCK NEWS

Welcome to our dedicated page for Orange County Bancorp news (Ticker: $OBT), a resource for investors and traders seeking the latest updates and insights on Orange County Bancorp stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Orange County Bancorp's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Orange County Bancorp's position in the market.

Rhea-AI Summary

Orange County Bancorp, Inc. reported a record net income of $9.3 million for the first quarter of 2024, a 187.6% increase from the same period in 2023. Total deposits grew by 5.4%, reaching $2.2 billion. Trust and investment advisory income rose by 21.6% to $2.9 million. Book value per share increased by 1.9% to $29.81.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.22%
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Rhea-AI Summary
Orange Bank & Trust Company has been recognized as one of the '2024 Best Companies to Work for in New York' due to its strong workplace culture and commitment to employee development. With over $2.5 billion in assets and 220 employees across 17 offices, the Bank focuses on talent development and client service, leading to its market success.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.11%
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Rhea-AI Summary
Orange Bank & Trust Company opens a new branch in Yonkers, marking a significant milestone in the bank's 132-year history. The ribbon-cutting ceremony was attended by prominent officials and business leaders, showcasing the bank's commitment to economic development and community growth.
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Rhea-AI Sentiment
End-of-Day
-0.97%
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Rhea-AI Summary
Orange County Bancorp, Inc. declares a $0.23 cash dividend per share for its common stock, to be paid on March 15, 2024, to shareholders of record on March 4, 2024.
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Rhea-AI Sentiment
End-of-Day
0.56%
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dividends
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Rhea-AI Summary
Orange County Bancorp, Inc. (OBT) reported a net income of $29.5 million for the year ended December 31, 2023, representing a 21.0% increase from the previous year. Total assets grew by 8.7% to $2.5 billion, while total loans and deposits also showed significant growth. Trust and investment advisory income rose by 11.2% to $10.3 million. The company's management attributes the strong performance to continued growth in net interest income and effectively managed growth of loans and deposits.
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Rhea-AI Sentiment
End-of-Day
4.49%
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Rhea-AI Summary
Orange Bank & Trust Company (NASDAQ:OBT) has announced the opening of a new branch in Yonkers, NY, marking the Bank's sixth office in Westchester County. With approximately $2.5 billion in total assets, the bank aims to offer more services to clients throughout Westchester County and the Hudson Valley region. The Yonkers branch, overseen by Vice President Moira Kiernan, is situated within a new retail complex and will provide a complete suite of banking services and financial products.
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Rhea-AI Sentiment
End-of-Day
-3.04%
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Rhea-AI Summary
Orange Bank & Trust Company appoints Redwan Ahmed as Chief Information Officer, reflecting the institution's commitment to innovation and leadership in embracing new technologies. Ahmed, an industry expert with over 20 years of experience, aims to enhance the bank's growth by leveraging innovative technologies. The appointment is expected to position the bank and its clients for success in today's data-driven world.
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Rhea-AI Sentiment
End-of-Day
1.15%
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Rhea-AI Summary
Orange County Bancorp, Inc. (Nasdaq:OBT) announces the promotion of Michael Lesler to Executive Vice President. Lesler, with over 20 years of experience in the banking industry, has demonstrated consistent success and great capability in all financial related fronts. He joined Orange Bank & Trust Company in November 2021 and was promoted to Chief Financial Officer in March 2023. The promotion is well-deserved and reflects Lesler's tireless commitment, sound judgment, and steadfast leadership.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.85%
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Rhea-AI Summary
Orange County Bancorp, Inc. (Nasdaq:OBT) announced the addition of three new officers to its expanding Trust Services Division. Jacqueline Weimmer, Sarita Bhandarkar, and Garry Garnet joined the Bank's Trust Services Division to support its growing area of expertise in trusts and estate planning. The Bank's Trust Services Division comprises two departments - Trusts and Estates and Special Needs Trusts (SNT) and Guardianships.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.61%
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management
Rhea-AI Summary
Orange County Bancorp, Inc. (Ticker: OCBI) Declares $0.23 Cash Dividend per Share
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Rhea-AI Sentiment
End-of-Day
2.27%
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dividends
Orange County Bancorp, Inc.

Nasdaq:OBT

OBT Rankings

OBT Stock Data

272.97M
3.83M
16.95%
45.05%
0.5%
Offices of Bank Holding Companies
Management of Companies and Enterprises
Link
United States of America
MIDDLETOWN

About OBT

for more than 125 years, orange bank & trust has been dedicated to the financial strength and security of the mid‐hudson valley region of new york state. today, our experience and breadth of services combines with continued commitment to local ownership in giving local residents and businesses a financial partner that has the strength and independence to meet their needs. when you need us to take action in a timely fashion, we are close enough and independent enough to move quickly. when you need a broad array of services and capabilities, we offer a full variety of banking products and services for individuals, businesses, municipalities and not‐ for‐profits. and if you’re looking for financial strength, we are highly capitalized – with almost 1 billion in assets. a wholly‐owned subsidiary of orange county bancorp, inc., and a member of fdic, we serve local customers from twelve locations – including middletown, goshen, chester, vails gate, newburgh, montgomery, fishkill, new city, mt